From Zero Hedge:
The early Finnish votes are in and it does not look good for Portugal. As Reuters reports, Finland’s anti-euro True Finns made huge gains in an election on Sunday, raising the risk of disruption to an EU bailout of Portugal. The right-leaning National Coalition topped the ballot, gaining just over a fifth of all votes. Party leaders will start talks soon on forming a new government. The problem is that as the anti-euro moniker indicates, the True Finns are pretty much hell bent on vetoing the Portugal bailout which means the ongoing annexation of Europe’s periphery by Olli Rehn is about to finish (and yes there is a finish-Finnish joke in there somewhere)…
This is not the same as what happened in Iceland and Ireland – those two nations are broke and part of the problem. Finland, though, is in good economic shape – this is not a rejection of being bailed out, but of paying to bail out others from their folly. All of it, of course, is ultimately a rejection of the notion that Europe’s taxpayers have to make good the losses of banksters who essentially gambled their investment funds.
In the larger sense, what we are seeing around the world – the TEA Party in the United States, True Finns in Finland, etc – is a popular rejection of the politico-economic power structure which grew up in the post-World War Two world. While each people will work it out for themselves – and some of them will remain wedded to a socialist philosophy – the main thing to take away from all this is that no one is in a mood to bail out people who made bad investment choices. It isn’t so much a “shame on you for going broke” but more of a “you went broke; so deal with it” attitude. This popular attitude gravely threatens the powers that be – they live off the inter-connections between Big Government and Big Corporation; the world is supposed to be built for them and they are never supposed to lose out. Well, they are being told, in so many words, “sorry, losers”.
In the long term, this can only be healthy for both economics and politics. Neither the economy nor the government can work if the impression is made that only a select few are getting ahead – that people with the right corporate or government juice are getting a rake-off. Thus the increasing dislike for the whole thing – the bailed-out Big Corporation, the failing government program, the corrupt government union.
Out of this – after much pain; we will have to go through quite a bad economic time before we’re done – will come a world better in tune with the needs, desires and hopes of average people. Average people – those who are neither fabulously wealthy nor dependent upon government; the people who make the world work. As humanity cannot obtain perfection by its own efforts, the only rational policy is to ensure that most of the people, most of the time, are able to get on with their lives – and that is what we have not done for half a century, but what will come out of this global revolution.
Blogs For Victory 